DUTCH GOVERNMENT INJECTS $13 BILLION IN ING GROUP

Restoring confidence is key

Recently, the Dutch government acquired all shares in the capital of the Dutch subsidiary of Fortis, i.e. Fortis Bank Nederland, including ABN AMRO Bank.

Furthermore, the Dutch government has set aside $27.5 billion of capital to protect the financial institutions of the Netherlands. Although there are many banks that have enough capital to get them through this period of market turmoil (a ‘credit tsunami’, according to Alan Greenspan), many of these financial institutions are not in a position to lend money at the levels that are necessary to support the Netherlands …
Read the rest »

22
Oct 2008
CATEGORY

Finance

COMMENTS No Comments